An overview of home mining devices: specifications, power consumption, price, and utility.
In recent years, Bitcoin home mining has generated increasing interest among enthusiasts. Through home mining, one participates in the global competition to add a new block to the Bitcoin blockchain, approximately every 10 minutes, using specific hardware directly from home. Below we compare the main devices (also called Bitcoin Lottery Miners) currently available on the market, analyzing their characteristics, advantages, limitations, and their role in the Bitcoin ecosystem.
Technological hobby or something more?
Home mining started as a hobby or educational project, offering the opportunity to directly approach Bitcoin mining operations. Although home devices are not competitive in terms of power compared to large industrial plants – which dominate the network – their value lies elsewhere: active participation, even if on a small scale, and the possibility for some users to try their luck with solo mining.
The latter is a mode where a single miner tries to solve a block independently, obtaining the entire reward, rather than working in pooling. The chances of success are extremely low, making the process similar to a lottery. Alternatively, pool mining allows combining one’s computing power with other participants, increasing the chances of finding a block and then dividing the reward proportionally.
A key element characterizing many of these devices is their open-source approach, making hardware and software completely accessible: from the design, which can be customized and studied at will, to the modular architecture, which facilitates adaptability and technology expansion.
Solo mining in pool or with own node? The differences
In pool solo mining, the miner participates in a coordinated structure that optimizes mining attempts among participants, requiring less technical expertise but surrendering some control to the pool in exchange for greater organizational efficiency. The advantage of pool solo mining is using a standard protocol without having to download all timechain transactions as a node would. Miners join a pool dedicated exclusively to solo mining. The pool shares attempts to find a block, so participants don’t make the same identical attempts.
Conversely, solo mining with one’s own node represents the purest approach to Bitcoin mining, where the miner independently manages the entire process, from maintaining the node to selecting transactions, contributing more directly to network decentralization. The miner independently manages their own copy of the blockchain and creates block templates to mine. The miner chooses which transactions to include in the block, selecting the most profitable ones from their mempool.
Although both methods offer the possibility of obtaining the entire block reward (net of any fees in the pool’s case), they differ in terms of technical requirements, operational control, and contribution to the Bitcoin ecosystem. While pool solo mining is more accessible to beginners, solo mining with one’s own node requires deeper technical understanding but offers a more complete and autonomous experience.
NerdMiner: the gateway to home mining
The NerdMiner project originated from the Han Solo Miner device, a prototype created for educational purposes by developer Valerio Vaccaro. The device aimed to connect the abstract concept of mining to a physical object. Subsequently, developer BitMaker, inspired by the Han Solo Miner, developed NerdMiner, a more intuitive version with a more polished interface.
NerdMiner is one of the most affordable and accessible solutions for starting a home mining journey. Originally created as an educational project, NerdMiner has paved the way for home mining. It is designed to provide a simple and intuitive introduction to the more technical aspects of mining.
Main characteristics:
- Technical specifications: NerdMiner reaches a hash rate of 50-80 kilohash per second. This power is insufficient to solve blocks independently, but the device is perfect for educational and experimental purposes. It has a display showing various information like time, Bitcoin price, block height, hash rate, and transaction fees. It has two configuration buttons and a USB-C port for power. It’s the only completely open-source solution that allows modifying the SHA256 implementation, optimizing it or testing alternatives.
- Power consumption: NerdMiner stands out for its low energy consumption – just 1 watt – making it extremely economically sustainable.
- Price: With a cost between 20 and 50 euros, it’s ideal for those wanting to take their first steps without making a large investment.
- Versatility: Thanks to the completely open-source design, hardware and software structure can be modified. Supports solo mining (in pool) and pool connections through the Stratum V2 protocol.
Bitaxe: performance and customization
Bitaxe represents a more advanced option compared to NerdMiner, offering better performance without sacrificing the open-source approach. Created by Scott9000, the device is equipped with a single ASIC chip, originally designed for AntMiner, integrated on a custom board and cooled by a small fan. The project adopts an open-source philosophy for both software and hardware, with the only exception being the ASIC chip, which remains proprietary technology.
Main characteristics:
- Technical specifications: Available in different versions, the Bitaxe Supra and Gamma models stand out. The first, with BM1368 chip (used by Antiminer S21), reaches a hash rate of 700 gigahash per second; the second uses the BM1370 (used by Antiminer S21 pro), reaching up to 1.2 terahash per second.
- Power consumption: Bitaxe devices consume on average between 12 and 24 watts, maintaining efficiency for home use.
- Price: Cost varies from 100 to 200 euros depending on configuration, positioning itself in an intermediate price range.
- Flexibility: Designed to be assembled and adapted according to user needs, Bitaxe is suitable for both pool mining and solo mining (always in pool), offering greater versatility than NerdMiner. Connecting the device to Braiins or Ocean mining pools allows receiving payments directly to a Lightning Address.
Braiins Mini Miner (BMM 101): the plug-and-play miner
Braiins Mini Miner is a compact and easy-to-use device that integrates the Stratum V2 protocol, improving security and optimizing communication with mining pools. Equipped with a 3.5-inch IPS display, it features 4 ASIC chips on the board, 4 GB internal memory, 2 GB RAM, WiFi connection, and a microSD card slot.
Main characteristics:
- Technical specifications: The BMM 101 reaches a hash rate of 1 terahash per second.
- Power consumption: About 40 watts, with a maximum of 80 W in overclock, higher than both NerdMiner and Bitaxe. The cost of electricity needed to keep it running is estimated at about $5 per month with an energy price of 0.17 $/kWh.
- Price: At $299, it’s in the high-end range of home miners.
- Pros: Ease of use and limited noise level make the BMM a suitable choice for those wanting a plug-and-play solution.
Connecting the device to the Braiins mining pool allows receiving payouts via Lightning Network through a standard invoice or Lightning Address. Braiins Mini Miner was the first hardware with integrated support for Stratum V2.
FutureBit Apollo II (Full Node): miner and node in a single device
FutureBit Apollo II is the most advanced device on the list, thanks to its ability to combine mining and full Bitcoin node functionality in a single unit. It’s equipped with a 2TB NVMe drive, 4GB RAM, two USB 3.0 ports, an Ethernet port, and audio and HDMI outputs.
Main characteristics:
- Technical specifications: Uses 5 nm ASIC chips, reaching a hash rate up to 10 terahash per second. Also allows operating as a Bitcoin node, maintaining a complete copy of the timechain.
- Power consumption: Energy requirement varies from 175 to 375 watts depending on the chosen mode, making it more costly for daily home use.
- Price: The high cost ($1099) is justified by the integration of mining and full node functionalities.
- Pros: Ideal for those seeking complete control over infrastructure and wanting to actively contribute to network distribution.
The FutureBit Apollo II allows users to choose between solo mining and pool mining. Solo mining is done independently with your own Bitcoin node, giving you control over which transactions to include in the block. If you choose solo mining, you’ll need to wait for the node to fully sync with the Bitcoin network and download all transactions before starting the mining process.
Can you earn money with home mining?
No. Home mining is generally not considered a profitable activity but rather a way to learn how Bitcoin mining works and participate in the network.
Home mining offers two options: joining a mining pool or attempting solo mining. Pool mining guarantees minimal but constant earnings, in the order of a few satoshis per day, given the limited computing power provided. Solo mining, while presenting extremely remote success probabilities, mainly attracts Bitcoin enthusiasts willing to try their luck. It’s important to consider that while the overall computing power of the Bitcoin network will continue to grow over time, these devices’ performance will remain substantially unchanged.
Regarding success probabilities, the numbers are clear: with a NerdMiner, the chance of solving a block is one every 190 billion years, while with a Bitaxe, chances vary between one every 40,000 years and one every 12,000 years, depending on the model. The FutureBit Apollo II offers slightly better prospects, with a probability of one every 1,500 years.
However, proving that the improbable can happen, on August 29, 2024, a user managed to find a block using a Bitaxe Ultra after only 19 days of activity.
For some users, mining Bitcoin at home with these devices represents more of a technological hobby than a profit-making activity, comparable to buying a “lottery ticket”: unlikely to obtain a significant reward, but fascinating for exploring how the technology works.
